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If over-sheltered suburban adolescents can't understand this due to the myths being taught in our classrooms by the NEA, I can offer no other solution; ACORN and OWS can throw as many tantrums as they please, but the rules of the marketplace cant be altered by politicians, ideologues, or the simple minds to which they pander.
False: the marketplace is a social construct, and modifying it is entirely within the purview of our society and government.
A functional economy is in everyone's best interests, rich and poor. Obviously everyone would rather the repairs be paid for by somebody else, but we already have a mechanism (government) for resolving that debate.
Compare how the wages increased, but when they converted it to the 2000 value of t he dollar, that today it is about equal to 1970. This demonstrates how when the minimum wages are raised, other wages go up proportionally, but in reality coupled with inflation which is rising prices in a nutshell, that no one really got any more buying power.
Raise minimum wages, and companies find ways to reduce the size of the workforce, because if they just raise prices to cover the increased labor costs. Then due to minimum wage increases inflation wipes out the increased minimum wage effects for everyone.
This chart group, will show that the GDP keeps going up, even when minimum wages are raised. This indicates that the GDP which increases with inflation and a smaller more productive work force the GDP goes up, and the effect on minimum wages does not really give the workers more real spendable cash. In fact the dollar adjusted median income is considerably below what it was in 1970.
Doubling he minimum wage would just bring on the worst inflation possibly reaching hyper inflation rates and as in the past 40 years leave the minimum wage worker worse off than today.
Only 4.7% of all workers work for minimum wages today. Majority are young, and just starting work career. Double the minimum wages, and you will be forcing out the young high school and college students, replacing them with young college graduates that cannot find a job in their field of study, and mature workers.
I see it here in our area. Lets take McDonald's as an example. They are constantly advertising for help, with help wanted on their reader board signs out in front. They have a hard time staffing the restaurant. The sometimes put the starting pay on the reader board. $14 an hour to start. I had a grandson work there a couple of years ago, and they paid $11 back then. Their staff is more mature, with few students ever working there. We are a long way from the oil patch, where their reader boards begging for workers at $22 an hour.
You are completely misguided in multiple fronts. Inflation caused overtime is not a direct result of a rise in min wage and your chart does nothing to prove that it does. Inflation would occur with or without min wage increases
Same thing with your chart of increasing GDP/wages just because things occur over the same time periods doesn't mean one caused the other
A doubling of min wage would also not lead to hyperinflation, you point out how few people actually make min wage so the shift in no way would trigger hyper inflation
False: the marketplace is a social construct, and modifying it is entirely within the purview of our society and government.
A functional economy is in everyone's best interests, rich and poor. Obviously everyone would rather the repairs be paid for by somebody else, but we already have a mechanism (government) for resolving that debate.
False -- the true marketplace is what develops in the absence of government interference. Most of us do recognize that some of that interference protects those who are truly disempowered through no fault of their own, but this "safety net" is better managed by local entrepreneurs who can separate those who truly need help from those with unrealistic expectations seeking a "career of indolence".
That is precisely why (pseudo-) "progressives" will fight local control of social programs to the last ditch -- no "growth" (in their pipe dreams) and no "opportunities" stolen from true entrepreneurs and doled out to their politically-connected allies in unions, etc.
The "repairs" cited in your post simply will never be enough to satisfy your supposed high standards, for which you expect the rest of us to pay while you and your friends call the shots. (And, of course, it won't be long before you'll be whining for a bigger budget, a bigger staff, and more of the power and authority which is your real goal.)
Last edited by 2nd trick op; 06-11-2014 at 03:39 PM..
Compare how the wages increased, but when they converted it to the 2000 value of t he dollar, that today it is about equal to 1970. This demonstrates how when the minimum wages are raised, other wages go up proportionally, but in reality coupled with inflation which is rising prices in a nutshell, that no one really got any more buying power.
Raise minimum wages, and companies find ways to reduce the size of the workforce, because if they just raise prices to cover the increased labor costs. Then due to minimum wage increases inflation wipes out the increased minimum wage effects for everyone.
This chart group, will show that the GDP keeps going up, even when minimum wages are raised. This indicates that the GDP which increases with inflation and a smaller more productive work force the GDP goes up, and the effect on minimum wages does not really give the workers more real spendable cash. In fact the dollar adjusted median income is considerably below what it was in 1970.
Doubling he minimum wage would just bring on the worst inflation possibly reaching hyper inflation rates and as in the past 40 years leave the minimum wage worker worse off than today.
Only 4.7% of all workers work for minimum wages today. Majority are young, and just starting work career. Double the minimum wages, and you will be forcing out the young high school and college students, replacing them with young college graduates that cannot find a job in their field of study, and mature workers.
I see it here in our area. Lets take McDonald's as an example. They are constantly advertising for help, with help wanted on their reader board signs out in front. They have a hard time staffing the restaurant. The sometimes put the starting pay on the reader board. $14 an hour to start. I had a grandson work there a couple of years ago, and they paid $11 back then. Their staff is more mature, with few students ever working there. We are a long way from the oil patch, where their reader boards begging for workers at $22 an hour.
OldTrader, you are right. In fact, it's even worse than you have described, because minority youth also depend on low-wage entry level jobs, and their unemployment rate is already 40% in many areas. Pricing them out of the job market is the stupidest, most short sighted policy imaginable. We will only see higher crime rates and a failure of even more of these disadvantaged youth to enter the working world.
False: the marketplace is a social construct, and modifying it is entirely within the purview of our society and government.
A functional economy is in everyone's best interests, rich and poor. Obviously everyone would rather the repairs be paid for by somebody else, but we already have a mechanism (government) for resolving that debate.
No, the market is based on human behavior and can't be changed by governmental laws and regulations. You can distort the market, pervert it, and limit its benefits, which is what the current government is doing very effectively, as witness the dearth of new jobs. But you cannot control human behavior, which always wins in the end. People act in their own self-interest and always have. Those who don't understand this basic concept are doomed to frustration and defeat.
It's like when Obama got up in front of skeptical business leaders a couple of years ago and begged them to open their wallets and start hiring again. The naive fool didn't even understand basic economics. These businesses are not about to throw good money down the drain; their stockholders would object, their management would object, and the employees would object. Obama has vigorously denounced businesses, has sided with the unions against businesses, has tried very hard to break the energy industry in every way possible, and generally has demonstrated no understanding, sympathy, or desire to help America's private sector to grow and thrive.
With all the talks of how good a $15hr will be for people with no skills, it makes me wonder what will happen to all these no skill employees now. Many times minimum wage jobs are given to people that will get a job that most people refuse to work, as most people will not flip burgers or mop floors etc. If wages did go to $15hr, now employees can be much more selective on who they hire as many people would work for $15hr compared to $7.25 hr.
So when many of these no skilled workers that no one wanted to hire previously because of their poor worth ethic, poor appearance, or ghetto/rotten attitudes, but had no choice because no one else would take the job, now cant get a job because better applicants will now works those positions, will they do the next thing in resorting to stealing since they can no longer provide for themselves and no one will hire them since there will be less jobs available.
Its only 3 ways people can provide
1. Work to pay for what you have
2. Get assistance from the government to get what you have
3. Steal/Rob to get what you have
Choices 2 and 3 are going to go up big time if min wage goes $15hr nationwide.
Wow, what a horrible post. Before people start throwing stones at minimum wage workers, they might want to learn how to make legible posts.
You assume that people with $15 an hour jobs have no skills. if they had no skills, then they wouldn't be hired. While people might be minimum wage workers, that does not mean they have no skills.
From what you wrote, I think you're trying to say that a $15 minimum wage would increase the workforce. You then make some leap that because of this they'll steal instead even though they weren't doing this already.
You also make a debating mistake of trying to limit things to the three, rather not smart, options that you listed.
No offense, but i wouldn't hire you for anything at 7.25 an hour. Before you look down on those people making that wage, you might want to learn to think more clearly and not come across with that kind of attitude.
A doubling of min wage would also not lead to hyperinflation, you point out how few people actually make min wage so the shift in no way would trigger hyper inflation
29% of workers earn less than $15 an hour including 41% of women.
Raise all of those to $15 an hour, and everyone else will also want an equivalent raise. Prices will suddenly jump by huge numbers, and we have hyper inflation. That will put us right back to where those only earning $15 an hour, will be where the people are working for minimum wages.
A business can only handle a certain amount of payroll, as a percentage of their sales, etc. Raise wages to any real degree, and the company is losing money every time they open up for the day..
29% of workers earn less than $15 an hour including 41% of women.
Raise all of those to $15 an hour, and everyone else will also want an equivalent raise. Prices will suddenly jump by huge numbers, and we have hyper inflation. That will put us right back to where those only earning $15 an hour, will be where the people are working for minimum wages.
A business can only handle a certain amount of payroll, as a percentage of their sales, etc. Raise wages to any real degree, and the company is losing money every time they open up for the day..
Do you know what hyperinflation is?
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